We purchased the note for a 40% discount. 2.

As I addressed in another discussion, most money in real estate is made by long term appreciation and by improving, repositioning, and stabilizing the property, NOT thru purchasing at a discounted price.  

If anything there might be a discount b/c there are so many landlords who want this option so that they don't have long term tenants in the building so they have the option to sell the place vacant.

I really want to dive deep into real estate and be a learner & just soak up knowledge.

First, deep relationships with people so that you know them well, they know you well, and relationship continues for many years.  

With some of my clients, I've seen discounts of 30% to 90%.Here is a real-life example: I invested in a $50K note; it was second TD but with significant equity (over $200K) protecting my investment.

Another post someone made a comment about how “he can help the seller avoid foreclosure”These types of predatory messages also can get you in deep hot water as they have no intention of helping they just want the house at a discount

I would look at the value of the rentals before you make a decision to see if that makes sense for you.Regarding the furnishings, if you have to pay more for them (again here in FL, properties are generally listed fully furnished and you don't really get a discount to tell people to take the crap out - in fact, I had one guy refuse a good offer because one of my conditions was for them to take their crap!  

Its good that you've already established some target markets, I'd recommend diving deep into 1 or 2 markets, then branching out. 

Any "spreadsheet freaks" out there are gonna be amazed when you dig deep into crunching the numbers.